Snow Rivers Limited Closing 93,750 Units IPO for Foreign Nepalese Immigrants Today

Snow Rivers Limited is closing the IPO issue for foreign Nepalese Immigrants today, i.e., 12th Chaitra, 2082. The issue was opened on the 9th Chaitra, 2082.

The issued capital of the company is Rs. 93.75 Crores. Of this, 20%, i.e., 18,75,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 9,37,500 unit shares worth Rs. 9.37 Crores, will be allocated to project-affected locals in Taplejung and Panchthar District. The remaining 10% of the issued capital, i.e., 9,37,500 unit shares, will be offered to the general public.

Of this general public issue, 10% of 9,37,500, a total of 93,750 unit shares, have been set aside for Nepalese citizens working abroad, and the issue will close from today.

For Nepalese citizens working abroad, the minimum application quantity is 10 units, and the maximum is 1,000 units..

According to CDSC, 83,324 applicants have applied for a total of 10,56,670 units. Thus, the issue has already been oversubscribed 11.27 times.

Sanima Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has upgraded the issuer rating of Snow Rivers Limited (SRL or the company) to [ICRANP-IR] BB+ (pronounced ICRANP Issuer Rating Double B Plus) from [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B Minus). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.

Snow Rivers Limited (SRL), incorporated in August 2014 and converted into a public limited company on June 17, 2022, operates the 13.5 MW Super Kabeli Khola-A Hydropower Project in Taplejung district, Province 1, Nepal. The project is a run-of-the-river (RoR) scheme designed at a 42.32% probability of exceedance (Q42.32). It was commissioned on December 20, 2024, with a total project cost of approximately NPR 2,719 million, translating to about NPR 201 million per MW.